Cryptocurrency world is getting more popular and attract more players. Since, Bitcoin announced in 2008 there was no exchange to trade this currency. After a while, the first exchanges appeared and other followed the same way until today we have a lot of crypto exchanges globally. One of the areas that cryptocurrencies are getting popular faster than before, is Africa. Recently, a new exchange in Africa started to raise fund. The Yellow Card exchange raised over $1M.
Yellow Card exchange raised over $1M; Polychain is the big player
Africans are showing interest in cryptocurrency world. The crypto users in Africa continent showed a significant growth for the past few years. Recently, a Nigeria-based crypto exchange, Yellow Card, could raise over $1 million from crypto traders and investors. Polychain is one of the big players in this fund raising project.
Chris Maurice, the Yellow Card’s CEO announced that their exchange could raise around $1.5 million from investors in order to expand its business around the Africa. The aim is to make Yellow Card as the first place to buy and sell Bitcoin in Africa.
The number of crypto users is growing in Africa
Maurica mentioned in one of his interviews that the number of crypto users is significantly growing in Africa. He explained that most of the transactions happen over-the-counter (OTC). However, Yellow Card is an additional option for those traders.
Olaf Carlson, the Polychain Capital CEO also commented that crypto can help modernize Africa’s financial system, and they are excited about what is really happening. People are showing interest in cryptos and it can totally change the financial system in Africa.
Yellow Card exchange raised over $1M; the aim is to expand to whole Africa market
Yellow Card aimed to expand his services through the whole Africa market. They aimed to expand their services to Kenya and Cameroon. The platform will be open to in Kenya and Cameroon on Sept. 1.
Maurica added Bitcoin is getting popular in these two countries because of their economic atmosphere and national currency instabilities.